US Holiday jewelry sales expected to skyrocket

According to Mastercard SpendingPulse, US jewelers can expect revenue from jewelry sales in the US between November 1 and December 24 will grow 59% compared to the same period last year.

17 september 2021

Australia becomes world’s biggest producer of gold for first time

Australia has become the world’s biggest producer of gold for the first time, having played second fiddle to China for the last decade. Australia unearthed 157 tons of gold in the first half of the year, pipping China by four tonnes.

17 september 2021

Nigerian minister mulls death penalty for gold smuggling – report

Nigeria’s deputy minister in charge of mines and steel development has called for the death penalty for gold smuggling in the West African country.

17 september 2021

Gemfields back to black

Gemfields is expected to register a net profit after tax of $23.8-million in the first half of the year compared with the net loss after tax of $56.7-million, a year earlier. Earnings per share are expected to be 2 US cents from a loss per share of 4...

17 september 2021

Debmarine Namibia's new diamond recovery vessel to arrive in SA next week

Debmarine Namibia’s new N$7 billion diamond recovery vessel, Additional Mining Vessel #3 (AMV3), is expected to arrive in Cape Town, South Africa next week ahead of commissioning early next year.

17 september 2021

In Marange, illegal diamond trade thrives – for the politically-connected

04 august 2021

(zimlive.com) - “I’ve been told by a friend that this Nigerian guy resides somewhere on this street.” While strolling through Yeovil – a quiet suburb in the eastern border city of Mutare – a young man approaches me inquiring about a Nigerian diamond buyer he believes lives in the area. The young man acts as if he is in a market place, looking for someone to buy his tomatoes. According to Zimbabwe’s Precious Stones Trade Act, unlawful dealing in or possession of precious stones attracts a jail sentence of at least five years. In addition, you may be liable to a fine of up to ZW$1.6 million (US$19,000). There is little law enforcement in the city of Mutare, dubbed the diamond city. Foreign nationals here form a syndicate with locals and corrupt members of the Zimbabwe Republic Police: a criminal, politically-connected enterprise operating almost publicly. Ironically, this is the end result after a host of local and international measures promised to achieve an honest use of the rich resource. Diamonds to the people, the slogan used to go, once upon a time. But it was never the case.